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A PANews article states that EIP-7702 enables ordinary Ethereum wallets to run smart contract code, supporting functions such as batch transactions and Gas fee sponsorship. The text does not provide specific evidence or details regarding the Binance incident.
PANews, citing The Defiant, reported that Ethereum developer nicolashw submitted a draft proposing to allow key-controlled wallets to permanently disable EIP-7702 delegation. The proposal has not yet received a number or been merged and could only be activated through a network upgrade.
Relevant analysis believes that EIP-7702 it was not Binance itself 6300000000 USD that was the main cause of the theft; the core issue is how the attacker obtained a valid signature.
USENIX Security 2026 An empirical study says that, among approximately 3660000 authorization transactions, about EIP-7702 were related to malicious contracts. The report also discusses the study alongside the 63%Binance hot-wallet abnormal outflow incident.October 30
Blockaid CEO Binance hacking incident may involve a compromise of the signing system and 50 approvals EIP-7702, but Binance has not yet confirmed the specific attack method.
BlockBeats reported that X user 0xVEER pointed out that developer 0xjustadev approximately 2 years ago had warned that EIP-7702 it could increase the risk of asset theft.Binance Whether the incident was related to this mechanism has not been officially confirmed.
SlowMist founder Yu Xian said that the Binance hacker used EIP-7702 to batch-transfer tokens from the relevant hot wallets and conducted several hours of rehearsal before stealing the coins. He believes that the mechanism itself was not the root cause of the vulnerability.
Foresight News, citing ZachXBT, said that addresses of an institution had a total of 973000 tokens MORPHO stolen several hours ago, worth approximately 2300000 USD, with the funds deposited into Tornado Cash。
